Porch Group Set to Join Russell 2000® Index
22 Juni 2021 - 2:00PM
Porch Group, Inc. (“Porch” or “the Company”) (NASDAQ: PRCH), a
leading vertical software company reinventing the home services
industry, today announced that it is set to be added to the Russell
2000® Index at the conclusion of the Russell US Indexes annual
reconstitution, effective at the opening of the U.S. equity markets
on June 28, 2021.
“We have demonstrated strong momentum since becoming a public
company, and Porch’s addition to the Russell 2000 is a reflection
of our progress,” said Matt Ehrlichman, founder, chairman and CEO
of Porch Group. “We welcome the enhanced visibility as we continue
to execute on our strategy to drive sustained growth and capitalize
on the massive opportunity ahead.”
Annual Russell indexes reconstitution captures the 4,000 largest
US stocks as of May 7, ranking them by total market capitalization.
Membership in the US all-cap Russell 3000® Index, which remains in
place for one year, means automatic inclusion in the small-cap
Russell 2000 Index as well as the appropriate growth and value
style indexes. FTSE Russell determines membership for its Russell
indexes primarily by objective, market-capitalization rankings and
style attributes.
Russell indexes are widely used by investment managers and
institutional investors for index funds and as benchmarks for
active investment strategies. Approximately $10.6 trillion in
assets are benchmarked against Russell’s US indexes. Russell
indexes are part of FTSE Russell, a leading global index
provider.
For more information on the Russell 3000® Index and the Russell
indexes reconstitution, go to the “Russell Reconstitution” section
on the FTSE Russell website.
About Porch GroupSeattle-based Porch Group, the
vertical software platform for the home, provides software and
services to more than 14,000 home services companies such as home
inspectors, moving companies, real estate agencies, utility
companies, and warranty companies. Through these relationships and
its multiple brands, Porch provides a moving concierge service to
homebuyers, helping them save time and make better decisions on
critical services, including insurance, moving, security,
TV/internet, home repair and improvement, and more. To learn more
about Porch, visit porchgroup.com and porch.com.
About FTSE RussellFTSE Russell is a global
index leader that provides innovative benchmarking, analytics and
data solutions for investors worldwide. FTSE Russell calculates
thousands of indexes that measure and benchmark markets and asset
classes in more than 70 countries, covering 98% of the investable
market globally.
FTSE Russell index expertise and products are used extensively
by institutional and retail investors globally. Approximately $17.9
trillion is currently benchmarked to FTSE Russell indexes. For over
30 years, leading asset owners, asset managers, ETF providers and
investment banks have chosen FTSE Russell indexes to benchmark
their investment performance and create ETFs, structured products
and index-based derivatives.
A core set of universal principles guides FTSE Russell index
design and management: a transparent rules-based methodology is
informed by independent committees of leading market participants.
FTSE Russell is focused on applying the highest industry standards
in index design and governance and embraces the IOSCO Principles.
FTSE Russell is also focused on index innovation and customer
partnerships as it seeks to enhance the breadth, depth and reach of
its offering.
FTSE Russell is wholly owned by London Stock Exchange Group.
For more information, visit www.ftserussell.com.
Investor Relations Contact:Cody Slach/Matt
Glover/Alex ThompsonGateway Group, Inc.(949)
574-3860PRCH@gatewayir.com
Porch Press contact:Jordan SchmidtGateway
Group, Inc.(949) 574-3860PRCH@gatewayir.com
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